Assessment Appeal

In November 1978, California voters passed Proposition 8, which allows a temporary reduction in the assessed value of a property when it suffers a "decline in value." A decline in value occurs when the market value of the property as of January 1st (also known as the lien date) is lower than its current assessed value.

An assessment appeal is a formal challenge of a property's assessed value. The property’s assessed value is primarily determined by the County Assessor. For example, if comparable current market data information indicates a decline in the value of your property by comparison to the current assessment, you would be entitled to a reduction in your property taxes.

A base year value is the full cash value of a property on its base year date. The sale price listed on the deed is used to determine the base year value upon initial property purchase. The assessed value may also see adjustments in the face of any home improvements or when the home is sold/transferred.

A current assessed value is the taxable value against which the tax rate is applied. Increases or decreases in the assessed value will impact the amount of property taxes the property owner pays annually to the county. Most county issue a notice (Unsecured Property Tax Bill) containing the assessed value in July, but we encourage you to double check this issue date by visiting your county's Tax Collector website. You can locate your county's Tax Collector site by visiting our Resource & Forms webpage.

California’s system of property taxation under Article XIIIA of the state Constitution (also known as Proposition 13), values properties at their 1975 fair market value or the last time a reassessment was performed due to a change in ownership or new construction.

In short, the annual increase is based on a restricted rate on assessments of no greater than 2% each year OR beyond the rate of inflation that the Consumer Price Index measures.

If you purchase your property during a time when the real estate market falls, it is likely that your property will benefit from a Prop 8 reassessment. For example, if you bought within the last 1-3 years, it is possible that your property will be worth less in the next coming months. Based on recent 2023 California Housing Market Forecast reports, it is predicted that California will experience a 7.2% drop in existing single-family home sales in 2023.

Yes! You may request a free of charge Tax Assessment Evaluation. Our team of analysts will conduct a preliminary review and inform you if your property would qualify for a Prop 8 reduction that can result in a refund check.

To begin, click the button below and fill out our Tax Assessment Evaluation Form. We will reach out within 24-48 hours with our results. If you have any questions, please contact us at anytime!

We would be happy to answer any additional questions or concerns you may have. Contact us now!

You may also find answers by visiting our FAQ page!